Where does the Treasurer invest funds, and what are the constraints on investment of County monies?
Sections 12-45-220 and 6-5-10 of the SC Code of Laws limit the Treasurer as to where public funds may be invested. These code sections allow investment: a) in obligations of the United States and its agencies within the United States that are fully guaranteed by the federal government; b) in bonds or certificates of indebtedness of the State of South Carolina and its agencies; c) in shares of any building and loan association insured by an agency of the United States; and do with banking institutions of South Carolina.
Related Questions
- How does the Treasurer handle unappropriated funds and/or funds not needed immediately to meet the needs of the County?
- Where does the Treasurer invest funds, and what are the constraints on investment of County monies?
- How does the County Treasurer assure the safekeeping of public funds as required by law?
